KUALA LUMPUR, Oct 12 — The Malaysian Anti-Corruption Commission (MACC) will wait for the police to complete their investigation into former Goldman Sachs banker Roger Ng Chong Hwa regarding 1Malaysia Development Berhad (1MDB) scandal before commencing its own investigation, if necessary.

MACC Chief Commissioner Tan Sri Azam Baki said, right now, there was no need for the MACC to call Ng in for questioning.

"Police investigation should be given priority as they may have more important information in this case.

"Therefore, we will let the police to complete their investigation first and look at their findings later. Maybe their investigations will also cover what we need,” he told a press conference after attending a public-private partnership programme here today.

On April 8 last year, Ng was found guilty by a court in the United States for conspiring to embezzle hundreds of millions of dollars from 1MDB and was subsequently sentenced to 10 years in prison in New York.

On October 5, the US District Court ordered Ng to be returned to Malaysia to face related charges.

Meanwhile, in his speech at the programme which addressed the common challenge of integrity in tackling financial crime, Azam said some individuals are using financial institutions as safe havens to hide illicit funds, conduct business, and launder proceeds from illegal activities.

"Cyber criminals are becoming increasingly creative in seeking vulnerabilities to bypass customer due diligence processes and exploit various financial instruments to carry out unlawful activities,” he said.

In fact, he said the rapid advancement of information technology has made the modus operandi of corrupt individuals evolve and become more complex.

Corruption and fraud can now be concealed through various layers of records and documentation, and the laundering of illicit proceeds is conducted through new mediums such as digital assets, the black market, cross-border financial institutions, and offshore financial services.

Hence, he said financial institutions have an important role as the frontliners in the fight against corruption and fraud because financial fraud, corrupt activities, and money laundering often involve these institutions. — Bernama